Building Automation System Market Worth $99.11 Billion by 2022
Growing at a CAGR of 10.73 percent
PUNE, India — According to the new market research report, "Building Automation System [BAS] Market - by Communication Technology, Offering, Application, and Region - Global Forecast To 2022," published by MarketsandMarkets, the overall BAS market was valued at $53.66 billion in 2016 and is expected to reach $99.11 billion by 2022, growing at a compound annual growth rate (CAGR) of 10.73 percent between 2017 and 2022.
The growth of this market is driven by the increase in demand for energy-efficient systems, growing need for the automation of security systems in buildings and advancement of the Internet of Things (IoT) in BAS.